Chinese Economics Thread
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Is this immediate planning or long-term planning? While China does want to increase consumption in the long term, it's hard to tell how much that ties in with the short term goal of cooling the property market. Besides, the document doesn't mention any concrete stimulus plan, such as how much $$ and in what industries.
I agree with a lot of the policies in the document. But I do not like the idea of increasing parking spaces. These are just a waste of space. Especially in a densely populated country like China. I also think that battery swap stations are a useless idea. As batteries increase in capacity and fast charging becomes more available swap stations will just evaporate. And installing elevators in houses which do not have them already is another stupid idea. While promoting high definition video will increase consumption of new electronics products it will also increase energy consumption. So I cannot say I 100% agree with speeding the transition to higher definition either.
I think instead they should make open parking paid in all cities, promote fast charging, build national HVDC network to supply electricity to enable fast charging, build hydropower or natural gas backup to cover shortfalls in electric demand, and yes modernize elevators, but do not install them in houses without them designed in.
Another thing which I think was a missed opportunity not to put into the document, would have been speeding up construction of new nuclear power plants, to increase baseload generation for all the new consumption and further improve air quality.
While the document talks about improving health care, and increasing local medical coverage, it does not mention improving medical care by building new hospital facilities, or improving medical diagnostics by increasing coverage with such facilities.
I think instead they should make open parking paid in all cities, promote fast charging, build national HVDC network to supply electricity to enable fast charging, build hydropower or natural gas backup to cover shortfalls in electric demand, and yes modernize elevators, but do not install them in houses without them designed in.
Another thing which I think was a missed opportunity not to put into the document, would have been speeding up construction of new nuclear power plants, to increase baseload generation for all the new consumption and further improve air quality.
While the document talks about improving health care, and increasing local medical coverage, it does not mention improving medical care by building new hospital facilities, or improving medical diagnostics by increasing coverage with such facilities.
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Increasing parking spaces is the stupidest thing, but there's also the fact that Chinese cities do not have enough parking for even the existing cars (0.8 parking spaces per car). If increasing to even just 1 parking space per car, it won't be too bad. Just not 8 parking spaces per car like some countries.
I also agree that promoting high definition video seems pointless.
Installing elevators in buildings that do not have them is actually quite important, as there is a large semi-rural population living in villages and towns that live in 1960's buildings with no elevator, yet are getting old and will increasingly require the use of an elevator, and their kids live in the cities.
Installing elevators and remodeling old buildings have been one of better investments to increase the value of apartments except for the first floor residents which usually get compensated.
China has severe shortage of parking spaces for most cities. It is one of those investment actually paid off especially as the central government is looking to boost cars ownership in less congested cities and rural.
China has no major plans to build more public hospitals as it still wants to encourage more private hospitals to cater to not essential health care or for wealthy patients. The focus on health care is to beef up lower tiers hospitals with better equipment especially those new domestic MRI that is ten times cheaper now. In addition, major state owned companies are encouraged to rebuild and have their own hospitals that serve both public and their employees which would greatly boost public hospitals without eating into government coffer.
China has severe shortage of parking spaces for most cities. It is one of those investment actually paid off especially as the central government is looking to boost cars ownership in less congested cities and rural.
China has no major plans to build more public hospitals as it still wants to encourage more private hospitals to cater to not essential health care or for wealthy patients. The focus on health care is to beef up lower tiers hospitals with better equipment especially those new domestic MRI that is ten times cheaper now. In addition, major state owned companies are encouraged to rebuild and have their own hospitals that serve both public and their employees which would greatly boost public hospitals without eating into government coffer.
Relying on private healthcare to solve medical issues for the whole population is just a way to divert enormous resources from the whole economy into the medical sector while achieving mediocre results. One good example of this is the US which despite some of the largest expenditure per capita on healthcare achieves noticeably subpar results.
The government will "save money" by making every single citizen spend more in healthcare. They will spend more money on healthcare which they could have been spending on other activities. And they will get worse care on average. It will increase the burden of the healthcare sector in the total economy.
The government will "save money" by making every single citizen spend more in healthcare. They will spend more money on healthcare which they could have been spending on other activities. And they will get worse care on average. It will increase the burden of the healthcare sector in the total economy.
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Public hospitals in China provide 85% of all services. Private hospitals cater more towards ophthalmology and stomatology or wealthy patients.
US is the exception rather than norm. Most East Asian countries have private hospitals provided most of their health care but the government strongly regulated the fee. Both Japan and South Korea have shown the government can keep health care expenses in check through regulation and proactive negotiation.
What happened in the US is abnormal but ideology has kept any meaningful reform from happening as vested interests have gotten politicians in their pocket.
US is the exception rather than norm. Most East Asian countries have private hospitals provided most of their health care but the government strongly regulated the fee. Both Japan and South Korea have shown the government can keep health care expenses in check through regulation and proactive negotiation.
What happened in the US is abnormal but ideology has kept any meaningful reform from happening as vested interests have gotten politicians in their pocket.
Services PMI is at "51.5 in July — compared with 53.2 in June, 54.5 in May and 56.4 in April. "
51.5 is not considered still strong, especially when there is a clear downtrend of 4 months.
Slight expansion would be more accurate imo
51.5 is a healthy expansion, especially when it comes on top of the large expansions in the first 6 months of the year.